us debt clock- and current state debt. (legal, compared, economy)

[Boss]

With the stories in my local paper (Salisbury Post) today, I looked at U.S. National Debt Clock : Real Time. I checked out the state debt after noticing that the Federal debt is going in reverse as compared to the other debt on the clock. In NC the debt is rising as Revenue is lagging.

The need to accept the ACA Medicaid expansion is becoming more important with each passing day

[AeroGuyDC]

Originally Posted by Boss

With the stories in my local paper (Salisbury Post) today, I looked at U.S. National Debt Clock : Real Time. I checked out the state debt after noticing that the Federal debt is going in reverse as compared to the other debt on the clock. In NC the debt is rising as Revenue is lagging.

The need to accept the ACA Medicaid expansion is becoming more important with each passing day

Federal debt is not going in reverse. Federal deficits are going in reverse. There's a difference.

[Boss]

Originally Posted by AeroGuyDC

Federal debt is not going in reverse. Federal deficits are going in reverse. There's a difference.

Right, Budget deficit going down. Food for thought.

[gwynedd1]

Originally Posted by AeroGuyDC

Federal debt is not going in reverse. Federal deficits are going in reverse. There's a difference.

Correct. During a surplus so much private debt and leverage is created that , typically during ponzi scheme mania, a much smaller ratio is needed for da guberment obligations for the same amount of liquidity. After the madness ends , then much more of da guberment obligation must fill in due to the collapsing use of leverage.

So with deficit reduction, we are now sharing the bar of soap more often, but ya have to rent it out from Buba. There will be another prison riot soon enough . So one might want to plan on getting their own, even if its travel sized Irish Spring hidden in a body cavity.

[ericsami]

debt and deficit will never be solved until we decide three major decisions.

we like to raise revenue?
we like to cut benefits to old folks.
we are willing to cut down our security expenditures.

we are getting older and there is a smaller tax payer base.

It is simple in theory however in reality it is impossible to fix the situation unless a major crisis happen in which case it is too late.

[Opin_Yunated]

National debt cannot ever be repaid. Balanced budgets are irresponsible for the economy.

All money is debt.

Get over it and do some reading about double-entry accounting. The national debt is the sum of all the money in the private and foreign sector.

(See fractional reserve banking).

[Mircea]

Originally Posted by Boss

The need to accept the ACA Medicaid expansion is becoming more important with each passing day

No it isn't.

The need to implement reforms to move medical from a Command Market to the Free Market, and to move health plan coverage from the Command Market are more important.

Well, perhaps I'm falsely assuming you don't want to pay less for medical services, which in turn will result in lower prices for health plan coverage.

Originally Posted by Boss

Right, Budget deficit going down. Food for thought.

Revenues and spending fluctuate, so what?

Originally Posted by Opin_Yunated

National debt cannot ever be repaid. Balanced budgets are irresponsible for the economy.

All money is debt.

Get over it and do some reading about double-entry accounting. The national debt is the sum of all the money in the private and foreign sector.

(See fractional reserve banking).

Money is not debt. Money is simply a medium that facilitates commercial transactions.

There is no "double-entry accounting."

Also, you're wrong in that there is no national debt on two accounts. First, the US is a federation and not a nation, therefore it is federal debt, not national debt.

The second point you erred was that States are not legally responsible for federal debt under the US Constitution and also under International Law.

Another place you failed is that foreign States and other entities have no obligation to purchase US treasury securities.

Why don't you explain what happens when foreign States and others stop buying US treasury securities?

Get over it....

Mircea

[irspow]

The shylocks and money-changers owned us outright a long time ago...LOL

They do not care about the debt...there only goal is to have us pay usury for eternity...

Perfection happens when the entire county can only pay the interest...